Alibaba Group (NYSE:BABA) Sees Unusually-High Trading Volume on Analyst Upgrade

Shares of Alibaba Group Holding Limited (NYSE:BABA) saw unusually-strong trading volume on Friday after Benchmark raised their price target on the stock from $118.00 to $190.00. Benchmark currently has a buy rating on the stock. Approximately 32,159,185 shares changed hands during trading, an increase of 11% from the previous session’s volume of 28,848,545 shares.The stock last traded at $143.23 and had previously closed at $135.97.

A number of other analysts have also recently commented on the company. Citigroup boosted their price target on Alibaba Group from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Mizuho boosted their price target on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Bank of America upped their price objective on Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. upped their price objective on Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday. Finally, StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Alibaba Group has an average rating of “Moderate Buy” and a consensus price target of $131.93.

Institutional Investors Weigh In On Alibaba Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Concord Wealth Partners increased its stake in Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after buying an additional 155 shares in the last quarter. Decker Retirement Planning Inc. purchased a new stake in Alibaba Group in the 4th quarter worth $31,000. Sierra Ocean LLC purchased a new stake in Alibaba Group in the 4th quarter worth $32,000. Highline Wealth Partners LLC purchased a new stake in Alibaba Group in the 3rd quarter worth $36,000. Finally, Assetmark Inc. increased its stake in Alibaba Group by 225.4% in the 3rd quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock worth $42,000 after buying an additional 275 shares in the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Price Performance

The stock has a 50 day simple moving average of $95.43 and a 200-day simple moving average of $92.88. The firm has a market cap of $341.36 billion, a PE ratio of 29.14, a price-to-earnings-growth ratio of 0.53 and a beta of 0.31. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Thursday, February 20th. The specialty retailer reported $2.77 EPS for the quarter, missing the consensus estimate of $2.84 by ($0.07). Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The company had revenue of $38.38 billion for the quarter, compared to the consensus estimate of $38.19 billion. Equities analysts anticipate that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

Alibaba Group Company Profile

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.